SEC Deputy Inspector General Leaves Office Amid Investigation

Aug. 24 (Bloomberg) -- Noelle Maloney, who was second in
command of the U.S. Securities and Exchange Commission’s
troubled internal watchdog office, has left the agency.

Maloney served as the SEC’s deputy inspector general since
2008, a period in which the office produced landmark
investigations including probes of the agency’s failure to catch
the Bernard Madoff and R. Allen Stanford frauds. Her last day at
the agency was Aug. 17, SEC spokesman Kevin Callahan said today.

The office has been in turmoil since March after an
employee complained to the SEC that possible conflicts of
interest involving former inspector general H. David Kotz could
have tainted the integrity of certain reports the agency
produced. David Williams, the U.S. Postal Service’s inspector
general, is conducting an investigation into the allegations.

Following the January departure of Kotz, who has denied any
wrongdoing, Maloney served as interim inspector general until
the agency named Jon Rymer, inspector general for the Federal
Deposit Insurance Corp., to temporarily take over the office.

Maloney holds a degree in English from the College of New
Jersey and a law degree from Rutgers School of Law-Camden,
according to the SEC. Prior to joining the SEC in 2005, she
worked for the U.S. Peace Corps and the National Institutes of
Health. Attempts to find contact information for Maloney were
not successful.